More than two in three U.S. engineering firm leaders (68%) say the current business climate is better than last year at this time; and three in five (60.5%) say their backlogs are larger now compared to last year, according to results from the American Council of Engineering Companies’ new quarterly Engineering Business Index (EBI).
The EBI, representing responses of 340 engineering firm chairmen, CEOs and presidents had a composite score of 68.9 in the second quarter—a slight increase from 67.4 in the first quarter. The EBI is a diffusion index, consolidating answers to a series of questions about market and firm performance into a single number. Any number over 50 indicates expansion.
Results show that engineering firm leaders are more optimistic about prospects in private sector markets than those in the public sector. At least half believe that opportunities in buildings/commercial (53.3%), land development/surveying (54%), and industrial/manufacturing (50%) will improve over the next 12 months.
Expectations for major public sector markets were markedly lower. Only 41.5% of respondents anticipate improvement in the transportation sector, and only 40.9% believe opportunities in the water/wastewater sector will grow over the next 12 months.
“After years of a stagnant economy, engineers are beginning to see evidence of an improved business climate,” said ACEC President and CEO David A. Raymond. “Uncertainty regarding government funding is obviously dampening expectations for public sector markets.”
For a complete summary of the Summer 2014 EBI survey, go to: www.acec.org
Related Stories
| Aug 20, 2013
Top Data Center Engineering Firms [2013 Giants 300 Report]
Fluor, Syska, Jacobs top Building Design+Construction's 2013 ranking of the largest data center engineering and engineering/architecture firms in the U.S.
| Aug 20, 2013
Top Data Center Architecture Firms [2013 Giants 300 Report]
Corgan, Gensler, HDR head Building Design+Construction's 2013 ranking of the largest data center architecture and architecture/engineering firms in the U.S.
| Aug 20, 2013
What you missed: Last week's top construction market news
AIA, Gilbane, DBIA, and USGBC released major reports last week. Here's a roundup of the latest market news for the nonresidential construction industry.
| Aug 20, 2013
First look: $550 million Billie Jean King National Tennis Center renovation
The United States Tennis Association has announced its plans for a sweeping transformation of the USTABillie Jean King National Tennis Center that will include the construction of two new stadiums, as well as a retractable roof over Arthur Ashe Stadium. The transformation will be implemented in three phases to begin at the conclusion of the 2013 US Open, with the goal of overall completion by the 2018 US Open.
| Aug 19, 2013
The secret to creativity is… a messy desk?!
Anyone whose desk resembles a war zone can proudly cite a new scientific study that suggests a messy workspace may actually help people think more creatively and stimulate new ideas.
| Aug 19, 2013
Discovery of hidden asbestos complicates DFW terminal renovations
The finding of more asbestos in Terminal B than expected, and the pending merger of US Airways and the airport’s largest tenant, American Airlines, is causing construction delays on a $2.3 billion Dallas/Fort Worth Airport terminal renovation.
| Aug 19, 2013
Integration of solar panels in building skin seen as key net-zero element
Recent high-profile projects, including stadiums in Brazil for the upcoming World Cup and Summer Olympics and a bank headquarters in the U.K., reflect an effort by designers to adopt building-integrated photovoltaics, or BIPV.
| Aug 16, 2013
Today's workplace design: Is there room for the introvert?
Increasingly, roaming social networks are praised and hierarchical organizations disparaged, as workplaces mimic the freewheeling vibe of the Internet. Research by Susan Cain indicates that the "openness" pendulum may have swung too far.
| Aug 16, 2013
$5,000 in prizes to be awarded at BD+C's U40 Leadership Summit
Do you have the next big idea for improving the performance of buildings and the built environment? BD+C's 3rd Annual U40 Leadership Summit is your chance to shine—and share in $5,000 in prizes.
| Aug 15, 2013
Design-build project delivery holds steady at nearly 40% of nonresidential construction: DBIA study
The Design-Build Institute of America (DBIA), the only organization that defines, teaches and promotes best practices in design-build, has released research indicating that design-build project delivery represents nearly 40 percent of total market share in the United States, based on dollar value at the end of 2012.